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World's 8% earn half of the world's income

Truly amazing and staggering stats about who is garnering all the wealth in the world.....and worth pausing to reflect on why democracy is so much on the nose. No one has yet come up with something better (equitable?) but as Europeans, and many others, suffers austerity in one form or another, so-called democracies aren't looking so hot right now.

"The lead research economist at the World Bank, Branko Milanovic, will be reporting soon, in the journal Global Policy, the first calculation of global income-inequality, and he has found that the top 8% of global earners are drawing 50% of all of this planet's income. He notes: "Global inequality is much greater than inequality within any individual country," because the stark inequality between countries adds to the inequality within any one of them, and because most people live in extremely poor countries, largely the nations within three thousand miles of the Equator, where it's already too hot, even without the global warming that scientists say will heat the world much more from now on.

For example, the World Bank's list of "GDP per capita (current US$)" shows that in 2011 this annual-income figure ranged from $231 in Democratic Republic of Congo at the Equator, to $171,465 in Monaco within Europe. The second-poorest and second-richest countries respectively were $271 in Burundi at the Equator, and $114,232 in Luxembourg within Europe. For comparisons, the U.S. was $48,112, and China was $5,445. Those few examples indicate how widely per-capita income ranges between nations, and how more heat means more poverty.

Wealth-inequality is always far higher than income-inequality, and therefore a reasonable estimate of personal wealth throughout the world would probably be somewhere on the order of the wealthiest 1% of people owning roughly half of all personal assets. These individuals might be considered the current aristocracy, insofar as their economic clout is about equal to that of all of the remaining 99% of the world's population."

It has been hot in Sydney, Australia. Damn hot!.....and record-breaking. So, because of climate change? Yes, say the scientists.

"Southeastern Australia has suffered through a series of brutal heat waves over the past two months, with temperatures reaching a scorching 113 degrees Fahrenheit in some parts of the state of New South Wales.

“It was nothing short of awful,” said Sarah Perkins-Kirkpatrick, of the Climate Change Research Center at the University of New South Wales, in Sydney. “In Australia, we’re used to a little bit of heat. But this was at another level.”

So Dr. Perkins-Kirkpatrick, who studies climate extremes, did what comes naturally: She looked to see whether there was a link between the heat and human-driven climate change.

Her analysis, conducted with a loose-knit group of researchers called World Weather Attribution, was made public on Thursday. Their conclusion was that climate change made maximum temperatures like those seen in January and February at least…